ROYAL ASTRONOMICAL SOCIETY Burlington House, Piccadilly London W1J 0BQ, UK T: 020 7734 4582/ 3307 F: 020 7494 0166 [email protected] www.ras.org.uk Registered Charity 226545 C(2017/02) 2.1 Minutes of the Council Meeting of 9th December 2016 Professor John Zarnecki, Professor Ian Crawford, Dr Nigel Berman, Professor Yvonne Elsworth, Professor Don Kurtz, Professor Hiranya Peiris, Professor Christine Peirce, Dr Mandy Bailey, Dr Lyndsay Fletcher, Professor Martin Bureau, Miss Jane MacArthur, Dr Stacey Habergham, Professor Mike Bode, Dr Paul Daniels, Professor Giovanna Tinetti, Professor Michael Watson, Dr Catriona Jackman, Dr Sheila Peacock, Professor Sara Russell. 1. INTRODUCTION/APOLOGIES The Executive Director advised that Professor Brad Gibson will not be attending as he and his family had been involved in a road traffic accident. Council passed on their best wishes. 2. MINUTES AND MATTERS ARISING The Minutes of the meeting of 14th October 2016 were approved with one change: under Treasurers business the net cost incurred to the Society for NAM 2016 was £22 407. The following points were raised under matters arising: Professor Mike Bode advised that the joint EWASS & NAM meeting will be held on the 3rd to 6th April 2018 in Liverpool. The Executive Secretary had asked Sarah Matthews to confirm if UCL were able to support NAM 2019. The impact of leaving the EU will be discussed at forthcoming Astronomy and Geophysics fora. Council will be asked to consider a paper on additional resources for IT and information management in February 2016. The librarian had arranged tours of the Annexe and a display of Society treasures for new members of Council. The Society will not be represented at the AAS winter meeting in January 2017. The Russell lecturer, Professor Christopher McKee, will present at NAM 2017 in Hull. [POST COUNCIL NOTE: the AAS have drafted a MOU on the arrangements for the exchange lectures between them and the Society.] 3. PRESIDENT’S BUSINESS The President advised that discussions with likeminded Societies on the impact of Brexit on Astronomy and Geophysics and science funding were on going and reminded Council that the Society had provided evidence to the Parliamentary and Scientific Committee inquiry. It was also noted that he and the Executive had attended a number of Christmas receptions with Parliamentarians and other Societies that were useful opportunities to discuss shared challenges. It was noted that Council would be asked to approve financial support for a policy officer at the Campaign for Science and Engineering, CaSE, under agenda item 6.6 The President had met with Katherine Wright, Head of Space Science at the UK Space Agency, and had attended meetings in preparation for the recent ESA ministerial; he noted that the financial settlement for the ESA Research Directorate and its allocation to missions was flat cash with no increase for inflation. The decreasing value of sterling would also reduce the spending power of the contribution from the UK. The Society had received a request from the Astronomical Science Group of Ireland (ASGI) for the Society to consider affiliation. Council agreed that they were happy to agree to this in principle. It was noted that the President and Treasurer had met with a donor whose financial contribution supports part of the grants awarded annually. [POST COUNCIL NOTE: the President has arranged to invite the donor to the dining club as a small token of appreciation.] 4. TREASURER’S BUSINESS a) Finance Committee Membership Council discussed the membership of the Finance Committee and approved the following membership as of December 2016: Elected Members Tim Horbury 1st Term, 2 years remaining Gail Campbell Appointed from December 2106 for a three year term. Ex Officio Nigel Berman (Chair) Treasurer 4.5 years remaining Mandy Bailey Secretary (A)1.5 years remaining Pamela Mortimer Executive Director Mark Piper (Secretary) Accountant Michael Kyriakides Senior Accountant Council noted with the thanks the service of the following previous members of the Finance Committee, Allan Willis, Kieron Leech and Jose Gonzales. Jane McArthur volunteered to serve on the Finance Committee once her term as Councillor was complete in May 2017. b) Restricted Funds Council noted that the Treasurer, Executive Director and Accountant had met the external auditors Buzzacott to discuss how to best manage restricted funds (i.e. which might be either run down, amalgamated or replaced with designated funds.) It was noted that many of the restricted funds are too small to fulfil their stated purpose in a substantial way and are frequently supplemented from general funds. c) Research Fellowships The Treasurer advised that he had obtained legal advice on the terms of research fellowships from Birketts LLP. Council were reminded that the terms of the fellowship are silent on items such as breaks in service. Although the RAS is not the direct employer of the research fellows it does need to act with regard to employment law and the reputation of the society. There is no standard model amongst fellowships that may be easily followed. The Treasurer advised that his ambition is to establish a policy where the Society determines an amount of funding available for a research fellow, paid in instalments over the agreed period to the host institution, which is the employer and takes on all responsibility for managing career breaks etc. and how it uses up the available funds. He advised that it would be advantageous to the Society if it could seek a general indemnity from the host institution against any employment related actions that the research fellow might take. It was noted that the current Fellowship documentation needs to be updated for other legal reasons too, for example the calling notice/advertisements for the Norman Lockyer Fellowships had previously stated an upper age limit which is not allowed. [POST COUNCIL NOTE: The Treasurer will ask Council to approve a revised set of guidelines for RAS Research Fellowships in March 2017.] The Treasurer reminded that the present level of funding of research fellowships will not be sustainable in the future if the RAS wishes to continue with a full programme of grant making and other activities; this would become more apparent if the Society is required to pay higher rent for its premises (the latter was discussed under agenda item 5.2) Council discussed the possibility of fundraising. The Executive Director reminded Council of deliberations on this matter over the last few years. The Treasurer and Executive Director had attended training course on how to approach possible donors and undertake fundraising; the key take home point was that you need to do this properly or risk it backfiring, especially when potential donors scrutinise the balance sheet and see healthy reserves. Council had previously considered funding a part time fundraising post but had agreed that funding should be allocated to higher priority activities. d) E-payments Council noted that the Society is now making e-payments through World Pay. The previous provider PayPal had retained payments that will now be released following the termination of their service. e) Renewals/Re-competition Council noted that the five year contract with OUP runs to the end of 2017 and that the present contract produces a much higher revenue than did the previous contract with Blackwell and Wiley. The Treasurer advised that if the contract were to be opened for competition the process would have to start in the first quarter of 2017. He advised that five years in itself is long enough to demand considering a change and proposed that the editorial teams are canvassed to explore any perceived shortcomings in their engagement with OUP and that the outcome will inform if there is a necessity to put the contract to tender and offer points to negotiate at renewal. Council approved this proposed way ahead. ACTION: Treasurer to update Council. Council noted that the fund managers, Newton, who manage the bulk of the RAS investments, have been in place since 2008, their performance has been strong compared to benchmarks and similar managers and the Society has been happy with the investment returns and reporting that they have given. The Treasurer noted that it is considered best practice that fund managers should be reviewed regularly and that ten years would demand a review. Council agreed that a review should be carried out at the end of 2017/start of 2018. ACTION: Treasurer f) Statement of Bank Balances and Investments Council noted the following balances as of 30th November 2016: 1. HSBC BANK Account Name Account Number Balance £ Deposit/Money Manager 21664522 3,735,881 Account Restricted Funds Account 21664530 18,006 Pension Fund Account 51665456 23,138 Total 3,777,025 2. NATWEST Account Name Account Number Balance £ Current Account 60671688 56,727 Total 56,727 Council also noted the statement of Investment Holdings at 31st October 2016 BNY MELLON/NEWTON INVESTMENTS Account Name Price (1 = par) Balance £ Newton Growth and Income Funds for Charities (RAS) 1.2182 7,137,831 Newton Growth and Income Funds for Charities (Paneth) 1.2182 360,070 Total 7,497,901 g) Tax Residency Status of Trustees The Treasurer explained that HSBC had requested details of the Tax Residency Status of all the Trustees of the Society and asked Trustees to provide confirmation of their tax residency status to the accountant, Mark Piper. He noted that the Society will assume that Trustees have UK Tax residency Status unless otherwise informed. 5. ORGANISATION AND STRUCTURE 5.1 RAS Council Elections 2017 a) Composition of the ballot sheet Professor Ian Crawford declared a conflict of interest and withdrew from discussion on this item. Professor Lyndsay (G secretary) and Dr Mandy Bailey (A Secretary) reviewed the nominations received for positions on Council in 2017.